In Srimad Bhagavatam it is sometimes stated that demigods like Indra are exalted living entities and somewhere they are depicted as ordinary living entities? What exactly is the stature of demigods like Indra?

 In Bhagavad-gītā, Śrī Kṛṣṇa says, “Of the demigods I am Indra.” So clearly Indra is an exalted living entity. But this does not mean that Indra is a different category of living being to us. Except for Lord Śiva, the demigods are jīva-tattva, the same category of living beings as ourselves.

The jīva is the Lord's marginal potency and can, according to his qualification and karma, be elevated to an extraordinarily exalted position as a demigod. Indra is not a different kind of living being from us; he is the living being who occupies the post of Indra.

It has some similarities with modern government. A Prime Minister is, in one sense, an ordinary human being. He has the same kind of material body as other human beings and is subject to the same basic laws of nature. But he certainly isn't an ordinary person in terms of his qualifications, experience and position. Given the competition involved in politics, an ‘ordinary’ person doesn't simply wander in from the street and become Prime Minister.

Once he occupies that position, he has enormous authority, influence and responsibilities that come with the office. When his term ends, those powers don’t disappear but they pass to whoever succeeds him. The former Prime Minister may still have many good qualities but he no longer is as ‘exalted’ as when he was in power because it’s his office that gives him his powers.

Similarly, the post of Indra carries enormous powers and responsibilities bestowed by the Supreme Lord. The jīva occupying that post is still a jīva, but he is not there by accident. His position reflects the qualifications and karma that have brought him to that level. When his term as Indra ends, the powers associated with that post are transferred to another qualified living entity.

Given that the post of Indra changes fourteen times in a day of Brahma there are roughly half a million occupants of Indra’s post during the total duration of our universe. So while it’s an exalted position it’s far from unique. Since it’s described that we have been in the conditioned state since time immemorial there’s a possibility that all of us have had a spell as Indra at some time.

One should always have great respect for all the demigods, but if one is worshiping the Supreme Lord then there is no need for separate worship of the demigods.